Links

Blogroll

Fijian coup is not impacting property and resort sales

Early concerns brought on by the post-coup freeze put on the issuing of titles by the Fijian Land Transfer Office appear to be evaporating into the tropical air as Aucklanders and their mates down south in Christchurch, join Australians to snap up developments on the islands.

Under a headline in the New Zealand Herald ( 21 February 2007) “Fiji holiday homes are still hot properties”, the Auckland publication reports on the latest Auckland developer to find that Fiji hasn’t really skipped a beat when it comes to property development and real estate sales on the tropical paradise.

Auckland developer, Neville Mahon, who heads up Lausanne Project Management, told the paper that he was involved in $600-millions worth of real estate projects in Fiji. He said that after a temporary hiccup over the December-January period – usually a good one for sales on the islands – business had recovered fully.

He said he was “surprised” that sales had bounced back a lot “faster than expected” and a much “stronger than anticipated”. All good news now that the original coup fears have been allayed.

Properties at his $300-mil Fiji Resort &Spa(managed by the Hilton on Denarau Island) are said to be selling for between $460,00 and $4-mil. His 23-villa development, also at the $300-mil mark, provides shared ownership on Nananu Island, half-an-hour by air from Denarau Island, at $240,000 each to investors.

Neville Mahon is believed to have purchased Nananu Island about four years ago from an heir to the Procter & Gamble fortune.